Solana (SOL) — Onchain News & Whale Tracking

OpenCover is expanding to Solana, with its initial coverage including four major protocols such as Kamino and Raydium.

On-chain risk coverage platform OpenCover has announced it is expanding its institutional-grade risk protection to the Solana network. Eligible positions can now access coverage, with the initial rollout covering Kamino, Raydium, Orca, and Jupiter. Specific coverage scope, limits, and terms vary by protocol and position. OpenCover primarily provides on-chain risk protection for DeFi users, connecting them to underwriters including Nexus Mutual. Following this expansion, Solana ecosystem users can now purchase coverage for risks such as smart contract vulnerabilities, oracle failures or manipulation, liquidation failures, and governance attacks. According to a prior announcement from Nexus Mutual, it has now launched four coverage products on Solana for Kamino, Raydium, Orca, and Jupiter, covering nearly 90% of the Solana lending market’s total funds. Of these, Kamino and Jupiter hold over $1 billion and $925 million in lending deposits respectively. OpenCover noted that this launch marks the start of its further expansion of risk transfer infrastructure on Solana, and it will subsequently partner with protocols, asset management firms, and liquidity providers to expand the range of positions eligible for coverage.

The Solana ecosystem has emerged as the only remaining on-chain hotspot, with Banton surging past $10 million before pulling back.

On-chain activity has plummeted today, but the Solana ecosystem remains the only hot spot on chain. According to GMGN market data, multiple meme coins paired with altcoin liquidity pools have stayed strong today. Among them: BATON, launched 7 hours ago, has seen its trading volume exceed $2,750. Its market cap briefly surged to $10 million before pulling back, and is now trading at $4.94 million. The token derives its name from an early pump.fun project and its parent company, with its liquidity pair being PUMP, the native token of the pump.fun platform. LEVERCAT is currently valued at $5 million, with a 24-hour gain of 277%. Its liquidity pool is paired with xSOL, a leveraged SOL token from Hylo. BlockBeats reminds users that most meme coins have no practical use cases, are highly volatile, and investors should exercise caution.

Solana ecosystem token launch platform STONK leads the rally, with its market capitalization rising back above $180 million.

According to GMGN market data, the market capitalization of STONK, the token of Solana-based token launch platform StonkFun, briefly rebounded above $180 million and is now trading at $179.6 million, with a 24-hour gain of 24.86%. The token’s 24-hour trading volume reached $94.1 million. BlockBeats reminds users that most meme coins lack practical use cases, are highly volatile, and investors should exercise caution.

After its bid to acquire Solana-based treasury firm SkyAI was rejected, Forward is calling on shareholders to oppose the re-election of five incumbent directors.

Solana treasury firm SkyAI will hold its annual general meeting on September 18. Potential acquirer Forward Industries has publicly called on shareholders to oppose the re-election of five incumbent directors and reject the 2026 equity incentive plan, which would authorize the addition of 5.145 million new shares for equity compensation. Earlier, Forward proposed an all-stock acquisition offer of 0.367 FWDI shares per SKYA share, a roughly 20% premium, but was unanimously rejected by SkyAI’s board in July. Meanwhile, shareholders including Bastion Trading, which holds a 9.99% stake in SkyAI, have filed documents with the SEC, planning to vote "WITHHOLD ALL" on all director candidates, and questioning the company’s recent articles of association amendments, adoption of a poison pill plan without shareholder approval, and related-party transactions. (The Block)

Solana Mainnet Beta Transaction V1 Activation Delayed to Epoch 1035

Solana core development team Anza announced on X that Mainnet Beta Transaction V1 will activate starting at Epoch 1035, with an estimated time of approximately 1:20 UTC on September 15. The ecosystem team noted that additional time is required to test and integrate V1 support; V1 is now live on the devnet for integration testing. Compute budget in V1 is set via new transaction configurations. While compute budget instructions remain functional in both legacy and V0 transactions, they will not take effect in V1. Application developers, even those not planning to submit V1 transactions, must verify the impact of these changes on their applications.

Solana ecosystem prediction market World officially launches, opening to over 1 million waitlist users.

Solana ecosystem full on-chain prediction market World announced that its independent platform World.xyz has officially launched, with over 1 million users on its waitlist. The platform offers thousands of markets spanning sports, cryptocurrency, politics, finance, economics, and culture, covering all NFL regular seasons, 7 soccer leagues, F1 races, the 2026 U.S. midterm elections, and Federal Reserve interest rate decisions. Since integrating Phantom in July, World has launched more than 150,000 markets. Each market on the platform consists of "Yes" and "No" contracts, priced between $0 and $1, and settled using Phantom’s U.S. dollar stablecoin CASH. Technically, World leverages Chainlink Data Streams and Chainlink Runtime Environment to provide market data and automated settlements, reducing manual intervention and dispute resolution wait times. Prediction markets for stock price movements, gold, silver, oil, natural gas, computing power, and weather will be rolled out sequentially.

Bonk Guy is turning bullish on Solana, as the network has started proactively supporting its on-chain community.

Prominent crypto trader Bonk Guy has stated in a post that his stance on Solana and its associated ecosystem is gradually shifting from bearish to bullish. Previously, he argued that Robinhood Chain and BNB Chain would likely outperform Solana in the current cycle, and has written a related analysis that remains unpublished. The shift stems mainly from Solana’s recent renewed focus on its on-chain meme trading communities, core team members reaching out to him proactively, and the Solana official account and co-founder Toly beginning to publicly engage with ecosystem projects including STONK and USELESS. He views this as a sign that Solana is becoming more proactive in supporting projects and communities that drive ecosystem growth. Bonk Guy emphasized that he has never questioned Solana’s technology and infrastructure, but rather the ecosystem culture and the impact of some profit-seekers on users. Given the recent developments, he has submitted his original bearish analysis to the Solana team, and noted that if the analysis is later made public, he will add more context and details about his stance on Solana.

Solana ecosystem meme coin ZCAT has cumulatively distributed ZEC worth approximately $2.75 million to its holders.

Solana ecosystem cat-themed meme coin Anonymous Cat (ZCAT) has distributed roughly 2,320 ZEC to eligible holders via its unique transaction tax mechanism, worth approximately $2.75 million at current prices, with over 470,000 reward distributions completed. ZCAT levies a 3% transaction tax on every transfer; most of the proceeds are converted into Zcash (ZEC) and then allocated to wallets holding at least $20 worth of ZCAT. With ZEC surging sharply recently, this mechanism has significantly increased the ZEC rewards earned by ZCAT holders. It is worth noting that these ZEC do not come from business revenue, but from transaction taxes generated by other users buying, selling, and transferring ZCAT. As such, ZCAT’s reward scale is highly dependent on its own trading activity; once trading volume declines, ZEC rewards for holders will also drop substantially. Per GMGN market data, ZCAT currently has a market capitalization of around $111 million, a 4.39% 24-hour drop, and a 24-hour trading volume of approximately $20.5 million.

Solana ecosystem meme coin USELESS posts a short-term rally, surging past $280 million in market capitalization.

According to GMGN data, Solana ecosystem meme coin USELESS has rallied to a market cap exceeding $280 million, boosted by its listing on Upbit’s spot trading platform. The token has gained over 12% in the past 24 hours, with a 24-hour trading volume of $22 million. On September 1, prominent trader "Bonk Guy" noted that his bullish stance on USELESS is even stronger than when he traded BONK in 2023, adding that USELESS previously rose from a roughly $4 million market cap to $450 million during a non-bull market cycle, and could see even larger upside if it enters a genuine bull market for the first time. BlockBeats reminds users that most meme coins lack real utility, are highly volatile, and investors should exercise caution.

Solana-based meme coin "Just a Backpack" briefly surpasses $4 million in market capitalization.

According to GMGN market data, the Solana-based meme coin "Just a Backpack" briefly surpassed $4 million in market capitalization, and is now trading at $2.98 million, with a 24-hour trading volume of $6.4 million. On-chain data shows that crypto trader Ansem bought 4.5 million units of "Just a Backpack" 20 minutes ago for $15,000. "Just a Backpack" is a meme coin themed around Backpack, and forms a trading pair with Backpack's token BP. BlockBeats reminds users that most meme coins have no real use cases, experience significant price volatility, and require caution when investing.

Solana will raise its per-transaction limit to 4096 bytes, expanding its capacity by more than threefold.

Solana plans to activate Transaction v1 this Wednesday, boosting the maximum per-transaction size from 1232 bytes to 4096 bytes — a more than threefold increase. Post-upgrade, complex operations that previously required splitting across multiple transactions are expected to be consolidated into a single transaction, including large cryptographic proofs, multi-signature payments, and certain privacy transfers. Transaction v1 is already live on Solana’s testnet and development network; the existing transaction format will remain functional, with wallets and apps only needing upgrades when larger transaction space is required. That said, on-chain data services relied on by block explorers, wallets, and trading apps must adapt to the new format, or they may fail to correctly read transaction and priority fee details. The upgrade is designed to ease the structural constraints Solana has long faced from its 1232-byte transaction cap, further enhancing its capability to handle complex applications. The 4096-byte limit is modeled after the standard 4KB memory page size used by validator hardware, to prevent overly large individual transactions from raising processing costs for the network and validator nodes.

Solana ecosystem DEX sector tokens rally broadly, with ORCA surging over 14% in 24 hours.

According to HTX market data, Solana ecosystem DEX tokens are seeing broad gains today. Specifically: ORCA has rallied 14.33% in the past 24 hours, trading at $1.572; JUP is up 12.23% over the same period, now priced at $0.2626; RAY has risen 5.95%, currently at $1.202.

Analyst: On-chain funds may be rotating from Robinhood Chain to Solana

DeFi researcher Ignas posted on X that today’s crypto market shows signs of capital rotation from Robinhood Chain to Solana. Over the past 24 hours, Solana ecosystem tokens have posted strong gains: RAY rose roughly 60%, JUP gained 21%, ORCA climbed 12%, and MET increased 13%. By contrast, AI fell 11.5% while CASHCAT dropped 5.8%. Robinhood Chain’s meme coin sector as a whole declined around 16.5%. Meanwhile, cross-chain fund flow data shows Solana’s bridge recorded a net inflow of approximately $18.8 million over the past day, while Robinhood Chain saw a net outflow of $47.8 million. Though these bridge volumes remain small relative to the total value locked (TVL) of both chains, the capital shift may signal some traders taking profits on Robinhood Chain’s meme coins and shifting to Solana’s trading infrastructure tokens to continue participating in the related market rally. Notably, STONK — the launchpad token that pairs meme coins with tokenized stocks, fiat currencies and other assets — surged roughly 360% at one point today, emerging as a key market focus.

Meme Coin Roundup: PONS’ First Attempt to Hit $1 Billion Market Cap Hits Resistance and Pulls Back; Solana Ecosystem Vies for Hype

According to GMGN market data, today’s meme coin market continues rotating between Robinhood Chain and Solana, with capital rapidly switching between high-market-cap leading tokens and new narrative assets. Trading activity on Robinhood Chain remains centered on MEME, BONER, and PONS, while Solana’s meme space is driven by zec and STONK. On Robinhood Chain, PONS became the first token on the chain to challenge a $1 billion market cap yesterday, peaking at $990 million before consolidating at a high level. The meme coin is currently trading at ~$0.801, with a market cap of ~$802 million, a 15.4% 24-hour drop, and $136 million in 24-hour trading volume. MEME surged yesterday, hitting a market cap of ~$174 million before pulling back. It is now priced at ~$0.096, with a market cap of ~$96.5 million, a 118% 24-hour gain, and $108 million in 24-hour volume. BONER has rallied again, with its market cap briefly exceeding $80 million; GMGN data shows its all-time high market cap is ~$89.3 million. The meme coin is trading at ~$0.067, with a market cap of ~$67 million, a 114% 24-hour gain, and $31.3 million in 24-hour volume. Over on the Solana network, zec also boasts high trading activity, with its market cap briefly hitting ~$114 million. The meme coin is priced at ~$1,184, with a market cap of ~$113 million, an 11.8% 24-hour gain, and $90.5 million in 24-hour volume. zec is primarily tied to Zcash/ZEC-related narratives, drawing capital amid broader privacy coin trends and Solana meme coin momentum. Additionally, Solana’s STONK has also seen strong performance, with its market cap briefly hitting ~$191 million. The meme coin is priced at ~$0.165, with a market cap of ~$145 million, a 141% 24-hour gain, and $104 million in 24-hour volume. STONK is linked to the stonkfun ecosystem and stands as one of the most concentrated new trading hotspots on Solana in recent times.

On-chain trading has formed a tripartite landscape, with Solana, BSC, and Robinhood’s chain taking the top three spots in trading volume over the past 24 hours.

According to DefiLlama data, the total DEX trading volume across all blockchains reached $6.369 billion in the past 24 hours. Solana, BSC, and Robinhood Chain ranked top three, with respective DEX trading volumes of $1.961 billion, $1.637 billion, and $1.613 billion. On-chain trading has formed a tripartite landscape. Notably, the main driver of trading volume for these three chains currently comes from meme coin hype involving multi-asset pairs. BSC and Robinhood are primarily focused on crypto-stock meme hype, while Solana’s leading on-chain hype token is ZCAT, a meme coin that uses ZEC as its base liquidity pool.

The co-founder of Nasdaq-listed firm Vida is in talks with members of the Solana Foundation to create a meme coin launch platform.

Nasdaq-listed Vida Global (ticker: VIDA)’s Lyle Pratt posted on X early this morning, stating: “It would be interesting if a meme coin could indirectly contribute to the underlying company’s treasury, perhaps via transaction fees or licensing agreements. This would create a further flywheel effect between the meme asset and its base entity.” In response, Vibhu, product lead at the Solana Foundation, replied: “We can create a meme coin launchpad for your stock — happy to help.” Pratt noted that in-depth discussions on the topic could be held. Public information shows that Vida Global is dedicated to driving enterprises to build, deploy, and sell AI agents at scale. According to GMGN market data, the meme coin CTO — which uses the company’s stock token as its liquidity pool on Solana ecosystem launch platform Stonk — currently has a market cap of $7.47 million, with a 51% 24-hour increase.

The meme token ZCAT, based on the ZEC liquidity pool on the Solana blockchain, has hit consecutive new highs, while platform token STONK rallied sharply then pulled back.

According to GMGN market data, the Solana ecosystem’s hype rally has been intensifying since last night and early this morning. Stonk, a token issuance platform supporting multiple major asset pairs, saw its market cap surge past $188 million before pulling back, currently standing at $137 million with a 24-hour gain of 225%. On the platform, ZCAT, a meme coin with ZEC as its liquidity pool base, has emerged as the leading token in this round of Solana rally, hitting successive new market cap highs. It crossed $170 million earlier this morning before retreating, now trading at $145 million, with a 24-hour increase of 239%.

Solana ecosystem token STONK’s market cap briefly broke through $180 million to hit a new high, with a 24-hour gain of 434%.

Per GMGN market data, STONK, the token of Solana-based token launch platform StonkFun, briefly broke through $180 million in market capitalization to hit an all-time high. It is currently trading at $170 million, with a 24-hour increase of 434% and trading volume of $71 million over the same period. BlockBeats reminds users that related tokens have high price volatility, so investment should be approached with caution.

Arbitrum and Solana co-founders once again debate transaction costs: Steven emphasizes MEV protection, while Toly questions transaction fees and spreads.

Arbitrum co-founder Steven Goldfeder and Solana co-founder Toly have engaged in a debate over on-chain transaction fees, MEV protection, and the single sequencer model. Steven argued that surface-level fees alone should not be compared, noting that Arbitrum One and Robinhood Chain proactively prevent front-running and most malicious MEV, while some chains claiming lower fees carry higher MEV costs—including front-running targeting retail users. He stated he would rather pay clear, upfront fees than incur hidden losses from front-running, sandwich attacks, and other issues just to secure lower fees. Toly countered that Arbitrum currently has worse bid-ask spreads and higher fees. He explained that the 10% cut it takes from fees, when converted to basis points, already exceeds the sandwich attack loss rate—estimated to be roughly 10 times that rate—without even accounting for spread impacts. He emphasized: “A single sequencer that prioritizes maximizing shareholder value will never outcompete permissionless competition.”

Solana ecosystem token STONK briefly saw its market capitalization exceed $150 million, surging 449% in 24 hours.

According to GMGN market data, STONK, the token of Solana-based token launch platform StonkFun, briefly broke through $150 million in market capitalization, hitting an all-time high. It is now priced at $140 million, with a 24-hour price surge of 449% and trading volume of $61.3 million over the same period. BlockBeats reminds users that related tokens are highly volatile, so investors should exercise caution.

Solana ecosystem token STONK’s market cap briefly surged past $138 million, posting a 311% gain in 24 hours.

According to GMGN market data, STONK, the token of Solana-based token launch platform StonkFun, briefly hit a market cap of over $138 million, marking an all-time high. It is currently valued at $122 million, with a 311% 24-hour gain and $54.7 million in trading volume over the same period. BlockBeats reminds users that related tokens are highly volatile, so investors should exercise caution.

Solana-based meme coin Stonks has surpassed $100 million in market capitalization, posting a 256% increase over the past 24 hours.

According to GMGN market data, Solana-based meme coin Stonks has exceeded $100 million in market capitalization, currently standing at $92 million, with a 256% 24-hour gain and $30.4 million in trading volume over the same period. BlockBeats reminds users that related token prices are highly volatile, so investment caution is advised.

Arbitrum and Solana co-founders clash over Robinhood’s on-chain fee model: Solana’s Toly questions frontends should not profit from network congestion, while Arbitrum’s Steven pushes back, stating they aim to act as landlords rather than tenants.

Arbitrum founder Steven Goldfeder and Solana co-founder Toly have clashed over the fee model of Robinhood Chain. As an Ethereum layer-2 built on Arbitrum Orbit, Robinhood Chain allocates 10% of its net protocol revenue to the Arbitrum ecosystem: 8% to the DAO treasury and 2% to the development fund, with Robinhood retaining roughly 90% for itself. Recently, fees on Robinhood Chain have surged, with average per-transaction gas hitting around $0.4 at one point, and daily fees reaching millions of dollars—far higher than Solana’s typical ultra-low transaction costs. Solana co-founder Toly argues that the 10% split paid to Arbitrum is more than four times the equivalent transaction cost on Solana. If Robinhood Chain had been built on Solana, Robinhood could have offered users full gas waivers. Toly claims frontends should profit from their own apps, not from "network congestion-driven price hikes" on the underlying layer, calling Robinhood Chain’s model "brain dead." He asked Goldfeder: Why shouldn’t apps charge users directly? Does scaling and reducing congestion have to come at the cost of revenue? Arbitrum co-founder Steven Goldfeder countered that Toly’s view is "way off base." On Arbitrum, Robinhood keeps 90% of gas fees; on Solana, base layer fees go to validators or the network, so Robinhood would retain zero—meaning it would have to cover full gas waivers out of its own pocket. Goldfeder said Robinhood chose Arbitrum to act as a "landlord" rather than a "tenant," controlling its sequencer and keeping most fees for itself.

Solana’s token rent reduction feature is now live on the mainnet beta.

Solana core development team member Anza announced that the token rent reduction feature has launched on mainnet beta. Step 1 of Solana’s proposal SIMD-0437 was activated in epoch 1028. This marks the first of five functional gates aimed at cutting Solana’s overall per-byte storage cost by 90%. Step 1 reduces the required lamports per byte from 6,960 to 6,333. Each subsequent functional gate will only be activated after state growth checks pass at the current rent level. The team will gradually and safely lower the cost to the final target of 696, rather than following a fixed timeline.

Circle mints an additional 250 million USDC on the Solana blockchain.

Per Whale Alert monitoring, Circle minted an additional 250 million USDC on the Solana network at 18:13 Beijing time.

Standard Chartered: Monthly stablecoin trading volume reaches $7 trillion, with Solana accounting for roughly one-fifth of that volume.

Solana’s official podcast *House of Sol* recently interviewed Geoff Kendrick, global head of digital assets at Standard Chartered. Kendrick noted that global monthly stablecoin trading volume has reached roughly $7 trillion, with Solana handling about one-fifth of these transactions. The two also discussed trends in stablecoin payments and settlement by 2026, as well as how different blockchain networks are developing their own application niches. Kendrick further shared progress on enterprise adoption of stablecoins, stating that enterprise use cases will be a key driver for the further mainstream adoption of stablecoins.

Jupiter launches Universal Deposit, supporting one-click cross-chain swap of multi-chain assets to USDC on Solana.

According to official announcements, Solana ecosystem trading aggregator Jupiter has launched its cross-chain deposit feature, Universal Deposit. Users no longer need bridging tools to send tokens from any supported chain to Jupiter, and will receive USDC directly in their Solana wallets. The feature automatically integrates routing, cross-chain bridging, and swap workflows, eliminating the need for users to switch networks or execute additional transactions. Currently, Universal Deposit supports asset deposits from networks including Ethereum, Base, Arbitrum, and Sui, with users able to complete operations using their existing wallets. The service applies a unified fixed rate, charging $0.30 per transaction regardless of the transfer amount—whether it is $100 or $10 million. Jupiter noted that the feature is designed to deliver a more convenient cross-chain asset transfer experience.

Robinhood Chain's daily fees reached $3.75 million, exceeding the combined total of Solana, Ethereum, and Base.

According to on-chain data, Robinhood Chain's on-chain fees reached $3.75 million in the past 24 hours, exceeding the total fees of three public chains—Solana, Ethereum Mainnet, and Base—over the same period.

Solana Foundation Chairman: Funds, Assets, and Ownership Are Entering the "Token Supercycle"

Solana Foundation Chair Lily Liu published an article stating that funds, assets, and ownership are migrating to all-weather internet infrastructure, giving rise to a long-term "token super cycle". Tokenization is not merely moving assets onto the blockchain—it transforms the assets themselves, enabling value to be issued, held, financed, and traded in a non-stop market. She noted that stablecoins have already proven funds can flow globally on-chain; financial institutions are driving asset tokenization; blockchain infrastructure is now meeting the speed and cost requirements of real economic activities; and AI economic agents need programmable currency. As these factors converge, any value with clear ownership could be tokenized, gaining broader distribution, financing, and trading channels. Over the past year, Solana-based Real World Asset (RWA) trading volume reached hundreds of billions of U.S. dollars, covering tokenized U.S. Treasuries, stocks, and private credit; during the same period, stablecoin transfers exceeded $4.7 trillion. Liu added that tokenization also allows more investors to break through geographic, minimum investment, and eligibility restrictions, while enabling held assets to be used as collateral or generate yields. Although the current on-chain market size is still far smaller than traditional markets, related infrastructure could reach 5.5 billion global internet users in the future.

Pump.fun Launches On-Chain Limit Order Functionality on Solana

Pump.fun official announcement: The limit order feature for the Solana blockchain is now live, enabling users to set take-profit and stop-loss orders in the Pumpfun application.

Solana's non-voting cumulative transaction volume hit an all-time high in August, reaching 5.2 billion transactions.

Solana officials stated that the Solana network processed 5.2 billion non-voting transactions in August, marking an all-time high and a 19% rise from the previous record set in July.

Solana-based AMM Aquifer was hacked, suffering losses of approximately $2.5 million.

Solana-based automated market maker (AMM) Aquifer was hacked on August 31, incurring losses of approximately $2.5 million. The protocol later issued an on-chain "white hat" offer, demanding the attacker return at least 80% of the stolen funds to designated Solana and Ethereum recovery addresses by 22:00 on September 3, with the attacker permitted to retain up to 20% as a bounty. The project team has committed to not filing civil lawsuits against the attacker if the terms are met.

Solana is set to launch Transaction V1 on September 9, and will further reduce its block time interval.

Solana Foundation Technical Vice President Jacob Creech has published a post announcing that Solana is set to undergo several key changes. Next week, the network will take the first step toward rent reductions. Transaction V1 will officially launch on September 9, while slot time (the interval between block productions) will be further shortened. Additionally, Solana plans to roll out the Alpenglow upgrade in October and host the "Scale or Die" event in November. Creech noted that with these changes implemented, "Solana’s development will be fundamentally different moving forward."

Solana supply tightening proposal progress: 'Double Deflation' reaches the 2/3 vote approval threshold for passage.

According to official sources, the voting phase for Solana’s "Double Deflation" proposal has concluded, with a voter participation rate of 60.69%. Of the votes cast, 67% were in favor, 25.16% opposed, and 7.84% abstained, meeting the required two-thirds approval threshold for passage. The proposal aims to cut SOL’s inflation rate to roughly half, lifting its deflation rate to 30%. Current estimates project the proposal will reduce total SOL issuance by approximately 18.9 million coins over the next six years. Separately, the voting phase for the "Resource and Inclusion Fees" proposal has also wrapped up, with a participation rate of 61.14%. Here, 53.9% of votes were in favor, 18.92% opposed, and 27.18% abstained, falling short of the two-thirds threshold needed to pass. This proposal would introduce a transaction fee mechanism based on resource consumption, charging fees based on network resources consumed by transactions, and is expected to boost daily SOL burn from the current ~650 coins to between 7,500 and 9,000 coins.

Bitwise’s Solana ETF surpasses $1 billion in assets under management, marking the first such product of its kind.

Bloomberg ETF analyst Eric Balchunas noted that Bitwise’s Solana ETF has just surpassed the $1 billion mark, becoming the first Solana ETF to hit this milestone. Cumulative inflows across the entire Solana ETF category now stand at $1.7 billion. Even amid the "nightmarish" market downturn in the first half of this year, inflows saw almost no sustained outflows, demonstrating robust performance.

First phase of SIMD-0437 launched on Solana testnet, with a planned final 90% reduction in storage costs.

Solana development firm Anza announced that the Solana testnet has activated Phase 1 of the SIMD-0437 proposal, officially launching testing of its account rent reduction mechanism. The proposal includes a total of 5 functional gates; only the first is currently active, and not all adjustments have been completed or deployed to the mainnet. Once all 5 phases are finalized, Solana’s per-byte storage parameter lamports_per_byte will drop from 6960 to 696, a total 90% reduction. Taking token accounts as an example, the deposit required to keep an account rent-free is projected to fall from approximately $0.16 to $0.016, cutting costs for account creation and application deployment.

Meme coin roundup: AI-led rally surges over 50% to a new high; newly listed Solana (SOL) hot token FONE sees a nearly 700% price jump with $80 million in trading volume.

According to GMGN market data, today’s meme coin market has entered a phase of divergence. Strong-performing tokens on Robinhood Chain have pulled back from their highs, but capital has not significantly exited the market—instead, it is continuing to seek new relay opportunities within the chain. The AI-themed meme coin Artificial Inu (AI) hit a new all-time high, while FONE has emerged as a standout on Solana, with the short-term market still focused on high-volatility meme coins. On Robinhood Chain, CASHCAT has pulled back after hitting a phase high, currently trading at ~$0.203, with a market cap of ~$204 million. Its all-time high market cap stood at ~$257 million, down 12.1% in 24 hours, and 24-hour trading volume is ~$34.1 million. PONS also corrected from a high, currently priced at ~$0.112, with a market cap of ~$114 million, all-time high ~$149 million, down 8.6% in 24 hours, and 24h trading volume ~$15.7 million. Meanwhile, Artificial Inu (AI) continues to strengthen, hitting an all-time high market cap of $95.7 million at one point. The meme coin is currently trading at ~$0.0878, with a market cap of ~$87.17 million, up 50.4% in 24 hours, and 24h trading volume ~$15.5 million. AI’s core narrative combines AI and Inu dog themes, making it one of the strongest relay tokens on Robinhood Chain recently. The new hotspot on the Solana network is FONE, a meme coin currently priced at ~$0.0222, with a market cap of ~$22.1 million, all-time high ~$32.2 million, up 692% in 24 hours, and 24h trading volume ~$80 million. Full name apeonfone, FONE is a newly launched phone-themed meme coin on Solana that has quickly attracted short-term capital thanks to its new token narrative and extremely high turnover.

Bitwise's Solana Staking ETF Hits New All-Time High in Daily Trading Volume

According to official sources, Bitwise’s Solana Staking ETF (BSOL) recorded a trading volume exceeding $126 million yesterday, hitting an all-time high. The total trading volume of BSOL over the past seven trading days has reached $500 million. Separately, HTX market data shows that SOL’s price crossed $110 last night and is currently trading at $108.8.

After nailing a long position on Ethereum (ETH) that generated over $11 million in profits, a crypto whale has once again opened a 20x leveraged long position on 100,000 Solana (SOL).

According to Lookonchain’s monitoring, trader 0xedcd—who went long on 20,000 ETH (worth ~$49.9 million) ahead of the market rally and reaped over $11 million in profits—has just opened a new position: going long on 100,000 SOL with 20x leverage, with the position valued at roughly $10.45 million.

Solana's treasury firm DeFi Development Corp has resumed buying SOL, adding 19,000 SOL tokens to its holdings, bringing its total position to 2.33 million SOL.

According to SolanaFloor’s monitoring, Solana’s treasury firm DeFi Development Corp. has resumed buying SOL, purchasing 19,000 SOL tokens for $1.86 million at an average price of $98.14 per token. Its current SOL treasury holdings have increased to 2.33 million tokens, valued at approximately $182 million.

Solana’s double deflation proposal has reached quorum, with a participation rate of 33.84%

According to SolanaFloor’s monitoring, Solana’s "Double Deflation" proposal has reached quorum with 27 hours remaining before the voting deadline. The current voter turnout stands at 33.84%, with 25% of votes cast in favor. If the proposal is ultimately approved, SOL’s inflation rate will drop to roughly half its current level, lifting its deflation rate to 30%. Based on current estimates, the proposal would reduce SOL’s total supply by approximately $1.47 billion over the next six years, corresponding to around 18.9 million SOL tokens.

Circle has minted an additional 500 million USDC on the Solana blockchain over the past six hours.

According to Whale Alert monitoring, at 06:41 and 13:12 Beijing time on August 26, Circle minted an additional 250 million USDC on the Solana blockchain each time, totaling 500 million USDC across the two minting operations.

Meme Crypto Roundup: PONS keeps hitting new all-time highs, Lobster surged over 80% to a new peak before pulling back, and the new Solana token Pistacio has attracted notable attention.

The recent meme coin market remains in a highly volatile rotation phase. After multi-chain hot sectors rallied collectively yesterday, capital has begun shifting rapidly between networks including Robinhood Chain, BSC, and Solana. Old hotcoins fluctuate at high levels, while new narratives continue to absorb short-term liquidity. On Robinhood Chain, CASHCAT remains in high-level consolidation, trading at approximately $0.202, with a market cap of around $203 million, an all-time high (ATH) of $241 million, and 24-hour trading volume of about $41 million. Additionally, PONS continues to strengthen, trading at roughly $0.11, with a market cap of ~$109 million, ATH of $119 million, and 24-hour volume of $19.6 million. PONS is the native token of Pons, a leading meme coin launchpad on Robinhood Chain. On BSC, Niu Lai has started consolidating after a consecutive downtrend, while another relatively old meme coin, Lobster, has surged, hitting an ATH market cap of ~$48.97 million before quickly pulling back. The meme coin is currently trading at ~$0.034, with a market cap of $34.2 million, a 24-hour gain of ~35%, and 24-hour volume of $5.5 million. The hot topic on Solana has shifted to new meme coin Pistacio, trading at ~$0.0103, with a market cap of $10 million, ATH of $17.8 million, and 24-hour volume of $30 million. Pistacio’s core narrative comes from a green character created by crypto meme artist Marcello, later packaged by the community as a new meme asset on Solana.

Circle minted approximately 1 billion additional USDC on the Solana blockchain over the past day.

According to SolanaFloor's monitoring, Circle minted approximately 1 billion additional USDC tokens on the Solana blockchain over the past 24 hours.

Progress on Solana Supply Tightening Proposal: Community Turnout Rates All Below 17%, Still Need to Hit the 1/3 Participation Threshold

The Solana community is advancing two governance proposals, SGP-0002 and SGP-0003, aimed at tightening SOL token supply via a dual mechanism of reducing new issuance and increasing token burns. SGP-0003 (with detailed mechanisms outlined in SIMD-0553) proposes introducing a resource consumption-based transaction fee model, charging fees based on network resources consumed by transactions. It is projected to lift daily SOL burns from the current ~650 tokens (≈$65,000) to 7,500–9,000 tokens (≈$750,000–$900,000). The other proposal, SGP-0002 (detailed in SIMD-0550), plans to double SOL’s annual inflation reduction rate, bringing the 1.5% minimum inflation target forward to 2029 (from the original 2032). It is expected to cut ~18.9 million SOL in new issuance over the next six years, worth ~$1.89 billion at current prices. Both proposals have entered the voting phase. SGP-0002 has a 16.71% voter turnout, with 16.24% in favor, 0.31% against, and 0.16% abstentions. SGP-0003 has a 13.53% turnout, 13.23% in favor, 0.27% against, and 0.03% abstentions. Both require a 1/3 participation rate to pass. If the proposals secure sufficient support, the Solana network will further optimize its token supply structure by combining reduced new issuance and higher transaction fee burns. Voting remains ongoing, with future progress dependent on voter participation and support levels.

Virtuals Updates Its Complete Guide to AI Agent Token Issuance on Solana

Virtuals Protocol has released a comprehensive guide on Solana for issuing AI Agent tokens, covering the full workflow from identity setup, instant and scheduled launches, tokenomics, to advanced configurations. Key features include the Automated Capital Formation (ACF) auto-funding mechanism, which has raised over $6.8 million in total, team pre-sales, anti-sniper taxes, and direct integration with Economy OS-powered AI Agents. After launch, the tokens trade on Meteora DBC pools, with a 1% transaction fee (70% allocated to creators). Once the accumulated amount reaches 42,000 VIRTUAL, the token automatically graduates and migrates liquidity, with liquidity provider (LP) tokens locked for 10 years.

Crypto market maker Wintermute has transferred $57 million worth of Bitcoin (BTC) and Solana (SOL) to centralized exchanges (CEXs), sparking speculation that the firm is selling the assets.

According to Onchain Lens monitoring, crypto market maker Wintermute transferred 129,500 SOL tokens to Binance, valued at roughly $12.42 million. The firm also moved 169.5 BTC worth approximately $13.11 million, a transaction suspected to be for sale. Separately, 407.47 BTC were transferred through an intermediate wallet before being deposited into Coinbase, with a total value of around $31.36 million.

Solana-based meme coin CATE has surpassed $80 million in market cap, surging over 48% in the past 24 hours.

According to GMGN data monitoring, the market cap of Solana-based Meme coin CATE has surpassed $80 million, currently trading at $80.26 million, with a 24-hour gain of over 48%. BlockBeats reminds users that most Meme coins lack practical use cases, exhibit high price volatility, and investors should exercise caution.

Solana (SOL) surges past $102, with its 24-hour price gain expanding to 14.54%

According to HTX market data, SOL has surged past $102, with its 24-hour price gain expanding to 14.54% and its market cap rising to $56.766 billion.

SOL Treasury firm HSDT: Supports the Solana Constitution, but opposes adjusting inflation and transaction fees at this time.

SOL Treasury Company (HSDT) has announced its voting stances on the first three Solana Governance Proposals (SGPs): it supports SGP-0001, the "Solana Constitution"; opposes SGP-0002, which would double the inflation reduction rate; and rejects SGP-0003, which would shift transaction fees from fixed to variable. On-chain voting is scheduled to open on August 22. The firm stated its support for the Solana Constitution stems from the new governance framework, which allows every staker to vote directly, and holders can always override the votes of the operators they have delegated—this, it says, facilitates institutional participation in network decision-making. Regarding the other two proposals, the company emphasized it is not opposed to the policy directions themselves, but rather the timing. This is a critical phase for institutions considering entering Solana, where rule stability and predictability are top priorities for institutions. Altering core economic parameters like inflation rates and transaction fees at this juncture could further deter institutions that remain on the fence. The firm added that it will support revisiting inflation reduction once it sees sustained net capital inflows into SOL, and is open to reconsidering variable transaction fees after the ecosystem adapts.